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    慵懒
    2018-10-12 14:22
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    发表于 2016-12-11 10:06:34 987 浏览 5 回复

    几个BEC例文

    Formula:
    Introduction – the purpose of this memo is to provide abrief overview of …and to describe some of the ways that your company,…mightbenefit from…
    Todifferentiate between …and to help you select…that is appropriate for yourbusiness
    Presentyou the different benefits of taking…and to explain how..
    Thefollowing memorandum formally responds to your inquiry regarding the changing….of …
    I was delighted to hear about your interestin learning more about the committee … There are many components to.. and itstarts with..
    Offer suggestions of what should be..
    Knowledge of topic – background . generallyspeaking. Primarily used to..
    Impact on the company – referring back, for example,consequently.
    Increaseproductivity. Set tone – commitment to integrity andethical value
    Reinforce/add another layer – assert. the convenience alsobrings security risk. In the veent of…
    Conclusion – I would be happy to discuss additionalquestions you may have/these issues in greater depth regarding i…. at yourearliest convenience. Our firm would be pleased to help you implement..
    1.   Due diligence when acquiring a foreignsubsidiary(少提到)
    This memo is prepared to describe what thedue diligence is and its benefits when you acquire a foreign subsidiary.  
    Due diligence is an investigation conductedby professional agencies thoroughly exploring the true status and potentialrisks when acquiring a target enterprise. It mainly comprises of the followingfour components: financial position, management background, legal complianceand operation efficiency.
    After research and speaking with someprofessionals, I believe due diligence will be helpful for our decision-making.Admittedly, this acquisition is very beneficial for us to overcome the tradebarriers and open oversee markets. We might expand our global influence andbring more profits. However, this merger might be risky as well. It will alsoexpose us to the potential risks, such as pending litigations of the targetcorporation, political risks and exchange rate risks. Without knowing thepotential risks and costs we might face is not a wise plan for the overseeacquisition and following operation. Therefore, conducting due diligenceprocedure before merger and acquisition will be necessary. By hiring theprofessionals and sending our people to understand the real status of theforeign target corporation, we will identify the potential risks, estimate thecosts of risks and related risk mitigation. Then we can fully evaluate thisacquisition by considering both the implicit costs and benefits.
    In general, due diligence enables us toavoid making huge mistakes. I would like to talk more about the due diligencewhen acquire this foreign subsidiary. We can set up a meeting and discuss thedetails at your convenience.
    2.A company planned to buy a shipping center in Japan, paid byJapanese Yen, with 80:1. The money will be paid 6 months later. However, 6months later, the currency changes to 80:12. What kind of the hedge should beused?(少提到)
    I was delighted to hear about your interestin learning about the hedges used to mitigate the currency exchange risks.
    I would love to introduce three availablehedges for your consideration. The first one is foreign currency options. Afterpaying an option premium, the foreign currency options give you the right tobuy or sell a predetermined amount of Yan on a future date. With the call(buy)option, you can buy the Yan at a fixed exchange rate described on the option.Overall, you can avoid the potential loss due to the appreciation of Yan bypaying an amount of money. The only cost is the premium you pay under anycircumstances.
    The second kind of hedges you can use arethe forward or future hedges. This kind of hedge also enable to you to purchaseor sell the currency at a fixed amount determined by the contract on a futuredate. Compared to the option hedge, you do not have the same flexibility whenthe situation is unfavorable to you. You have to exercise the contract.
    The third one is the money market hedge.You can use the dollar to buy the Yan at a current spot rate and investmentthem in securities maturing at the date when you need it. Based on the factthat the return on investment in Japan is higher than that in US, this type ofhedge might be more effective and save you money.
    In general, you should choose the hedgethat works best for your company. I would love to talk more about this topicwhen you have time. Thanks.
    Companyhas large portion of business in foreign country. Foreign country 现在有significant economic downturn 并且有继续发展下去的意思。问exchangerate risk有哪些?并且分析下要不要maintain business 在这个foreign country?
    The purpose of this memo is to address yourconcern about the economic downturn in the foreign country impact on ourforeign operations.
    Economic downtown will cause a significantexchange rate risk, which is closely associate with transaction exposure,economic exposure and translation exposure. In terms of these three aspects, Iwould like to discuss the potential impact that the exchange rate risk willhave on our operation.
    Firstly, transaction exposure is closelyassociate with exchange rate risk and will lead to gain or loss of thesettlement of our transaction with foreign customers. Based on the analysisthat the foreign economy will continuously decline, I have reason to beliefthat the foreign currency will be less expensive. Therefore, our operation willbe less expensive but also less profitable. Secondly, the other the downturn ofthe economy will decrease of overall demand and further depreciate of theforeign currency. As a result, our revenue and profit might face dramaticdecrease, which will influence our overall performance. Thirdly, we willencounter the risk that assets, equity and income of the consolidationstatement will decrease as a result of the translation loss due to the decreasingvalue of the foreign currency.
    Therefore, I would recommend that we needto evaluate the cost and benefits that this major oversee business segment willbring to our global performance.
    I would love to discuss more on detailswith you when you have time. Please feel free to schedule a meeting and I lookforward to hearing from you.
    4. Acompany always do its bank reconciliation by using the bank statements frommails, Now, they want to change to using online processing bank statement, Youare the controller, CFO asks you to evaluate risks and benefits associated with thetransitioning from paper-based to online processing Paperlessbilling and record-keeping offers several advantages for consumers.
    The purpose of this memo is to illustratethe benefits and potential risks of changing from paper-based to onlineprocessing system.
    The advantages of the online processingsystem include: efficient, time-saving, convenient and easily managed. First ofall, online process system enables the company to speed up transmitting thebank statement to bank. Also this system allows operations in other region tohandle the bank information in a timely manner. In addition, we cansignificantly reduce manual input error by using computerized processingsystem. Most importantly, by storing all the information into electronicdatabase, this system gives us an effective way to analyze and manage ourfinancial information, especially the cash flow, which will lead to asignificant improvement of our operational performance.
    Admittedly, the online processing systemwill expose us to some risks. On one hand, initial installation of the systemwill interrupt the daily operation and the new system might be incompatible tothe existing management techniques; on the other hand, even if we can quicklyadjust our operation to the new system, it is vulnerable to the internetthreats, such as unauthorized access and virus.
    Overall, the advantages of the onlineprocessing system outweigh its disadvantages, but we need to be cautious aboutinstalling and maintaining the new system.
    Please let me know when you have time, Iwould love to talk more about the topic with you.
    5.Acompany changed from periodic recognition to year-end recognition to recognize401(k). What are impacts on working capital?(如果月度支付改为年度支付,如果按期计提负债是否对working capital 没影响?) From the HR point view,what are the advantages and disadvantages?
    I was delighted to hear you interest inregard to the changes in 401k recognition period.
    I believe delay recognition will be helpfulto release the pressure to our cash flow by postpone cash distribution. However,it will not influence the working capital since the total current assets andliability have not changed.
    From HR perspectives, this change will haveboth positive and negative effect on our company. On one hand, this change willbe benefit to our HR department operation. For instance, we just need to updatethe 401(k) of each individual annually instead of adjusting the informationperiodically. We can save a lots of work and pay more efforts into employeeretention.
    On the other hand, the year-end recognitionmight cause negative impact on our human resource development. For example, asHR, it will take us time to inform every employee about the policy change.Also, employees might be unhappy with the late deposit of the contributionsinto their 401(k) account because this will cause them earn less interest.
    Therefore, we really need to be careful aboutthis change and conduct a thorough cost-benefit analysis. In order to evaluatethe possible outcome of the change and mitigate the potential risks, we shouldset up firm-wide investigation and questionnaire to understand the employees’needs.
    I would love to talk more about this topicwith you. We can meet up at your convenience.
    6. Acompany financed extra capital to meet the expanding strategy. Comparing totraditional bonds, what are the risks and benefits by issuing convertible debtinstead of traditional bonds?
    (This memo is prepared to describe) theadvantages and disadvantageous of financing strategy by conversion bondcompared with traditional bonds.
    a convertible bond is a type of bond thatthe holder can convert into a specified number of shares of common stock in theissuing company or cash of equal value. In comparison with traditional bonds,it has different sets of benefits and risks.
    One of the many advantages of this methodof equity financing is a delayed dilution of common stock and earnings pershare (EPS). Another is that the company is able to offer the bond at a lowercoupon rate - less than it would have to pay on a traditional bond. The ruleusually is that the more valuable the conversion feature, the lower the yieldthat have to be offered to sell the issue; the conversion feature mitigate therisk that investor might have; therefore, reducing their required return.
    The disadvantage is that financing withconvertible securities runs the risk of diluting not only the EPS of thecompany's common stock, but also the control of the company. If a large part ofthe issue is purchased by an institutional investor, conversion may shift thevoting control of the company away from its original owners and toward theconverters.
    I would love to talk more on details aboutthis topic with you if you have time.
    7.Thebenefit and advantage of debt securities
    (This memo is prepared to describe) theadvantages and risks of debt securities.
    Unlike loan offered by banks, debitsecurities is easy for corporations to raise capital and broadly available to investorsin the open market.
    The major advantage of issuing debt, from acash flow perspective, is the interest tax shield. Interest costs provide a taxdeductible expense that lowers a company’s overall tax burden, whereasdividends paid by a company to its shareholders do no provide a comparable taxbenefit. In addition, because debt holders must be paid interest beforeshareholders receive dividends, debt is seen as a safer investment from theinvestor’s perspective and therefore costs less than equity.
    The biggest disadvantage to debt is that itrepresents a fixed cost for the issuing company. Whereas dividends are issuedat the discretion of the company, debt interest payments must be met otherwisethe company will default on its obligation. This can be problematic when the cashis constrained. Another disadvantage of debt is the negative impact it can haveon a company’s financial ratios, including the debt to equity and interestcoverage ratios. These ratios are often used by banks and other financialinstitutions to determine the risk associated with lending a company additionalfunds. Higher debt levels indicate higher risk and higher borrowing costs.
    Therefore, we should be careful choosingtype of financing method.
    8. 你是一家银行CFO, CEO 要组建committeeto research ways to improve customer service,你手下有seniorand junior accountants, Controller, Branch managers 写MEMO回答以下问题,A)who should be included and why? B) who should take the lead andwhy? C)Time line of the project and time management method.
    (This memo is prepared to describe) theplan for setting up committee in charge of customer service improvementresearch action.
    For committee member and role arrangement,the proposal is listed as below: CEO and CFO should work as the executivesteering committee for this project. The success of the project cannot livewithout the support from senior management. They have the knowledge of leadingthe company and know exactly the requirements and outcome that the company wantfrom improving the customer service. they can navigate the overall progress ofthe project.
    Controller should work as Project sponsor. Ithink he is the good fit for this position is because he can leverage hisfinancial knowledge to contribute to the project and become the bridge tocoordinate the overall project. Branch manager should work as project managerin responsible for administration of the project work, because he is veryfamiliar with daily decision making and job allocations. Lastly, two accountantsshould work as project members in responsible for investigation currentsituation. They can provide timely feedback to the overall projectimplementation and operation because they conduct all the daily operations.
    As for the time line, the project should includethe following processes, initiating, planning, executing, monitoring andcontrolling, and close. In regard to the management method, the projectstakeholders should carry out the schedule management plan, define the scope,extent and the nature of the project, and the criteria when the project closes.
    I would like to talk more about this topicwith you. We can meet up and discuss further at your convenience.
    9. 公司要拓展业务到externally holded e-commerce platform(整体意思大概公司就是想去京东或者淘宝开个店),讨论分析 key control
    The purpose of this memo is to analyze thekey control that need to be in place when we hold an E-commence platform.
    E-commerce is trading goods and servicebased on internet. Compared with traditional commerce model, E-commerce savetime and cost for both parties of a business. However, e-commerce is subject topotential risks, such hacker attacks and shutdown of the system. Therefore,general controls and application control should be in effective to protect theplatform.
    In terms of general control, company shouldensure that the control environment is stable and well-managed. Managementshould place physical access control to avoid unauthorized access and protectthe system. Also, management should establish policy on segregation of theduties to reduce potential risks that employees may take advantages of thesystem backdoor to take company assets. Most importantly, management shouldhave ongoing evaluation and monitoring of the overall platform.
    As for the application control, companyshould emphasize on the controls that provide reasonable assurance to theaccuracy, completeness and validity of the information. There are three typesof controls should be used: preventive, detective and corrective controls.
    10.公司一海外子公司10年期debt,担心foreigncurrency decline问建议与办法。/公司的foreignsubsidiary,10年前issue 了很多fixed rate debt,分析foreign currency volatility(没说升降)的利弊影响以及哪些方法可以reduce/mitigate。
    The purpose of this memo is to show theimpact of the currency fluctuation on the long-term fixed rate debt and methodsto mitigate the risks.
    Fixed rate debt is a fixed rate bond is atype of debt instrument bond with a fixed coupon (interest) rate, as opposed toa floating rate note. The fixed-rate bond’s long maturity schedule andpredetermined coupon rate offers the debtor increased capital availability,while leaving the company exposed to the rise in interest expense due to thefluctuation of the foreign currency. When the foreign currency become stronger,it is more expensive for the company to pay the coupon interest. Whereas, whenthe foreign currency become weaker, the company tends to pay less than it paidoriginally.
    In order for the company to reduce therisks caused by the fluctuation of the foreign currency, it should consider touse hedges, such as forward, future, money market and currency option hedges. Forwardand future hedges provide company a fixed exchange rate of the foreign currencyon a future date. Money market hedge gives company a chance to buy foreigncurrency and invest them into foreign market with higher return rate, which inreturn reduce the loss due to the currency appreciation. These hedges all enablethe company to mitigate the fluctuation of the currency and reduces the losswithout paying more expensive foreign currency.
    I would love to talk more about the topicwith you. Please feel free to schedule any time that works best for you.
    11.你现在是这个公司的staff accountant,在一家小公司,现在我们公司换了新的owner,新owner之前是大公司的director,这个人比较concern这个小公司的monitor control让你讨论大小公司monitoring of control的区别.
    This memo is prepared to discuss thedifferences of the monitoring controls between large businesses and smallbusinesses.
    Generally, the monitor control in the smallcompanies tends to be less complex, less regulation and involves fewer peoplebut most of the senior management. In comparison with small business, largebusiness tends to have more complicated, more people from difference levelsinvolved.
    The differences exist is because ofdifferent capital, corporate structures and operational environments. For thesmall businesses, since they have limited human resources and capitalavailable, the monitor control will be more direct and less complex to beaffordable for them. Whereas, big businesses have a more complicated monitorcontrol is because that they have a bigger business structure with more peoplehandling different tasks. Also, due to more regulations, such as Sarbanes-Oxleycompliance, big business has to have more monitor control to ensure itsoperations are in compliance with the prevailing laws. For small businesses,they have less internal control- related requirements, which leads to fewer buteffective controls.
    In general, our company may need moredirect and less complicated monitoring control to fit in our operations. Iwould like to talk more about this topic when you have time.
    12.A company tried to change its accounts receivable collection policy byproviding the term, 2/10, net30 to its customers. What are the advantage anddisadvantage with this new policy?公司现在给的还款时间30天0discount,问公司要不要把政策改到10天内还款的话给discount,问意见与优缺点。 Risk andadvantages
    I was delighted to hear your interest inlearning about the advantages and disadvantages of the changes in our accountsreceivable collection policy.
    Currently, we do not have any discounts forearlier payment, which ensures our profitability. However, due to lacking ofincentives, customers tend to delay paying the bill till the last day. As aresult, it will be problematic for our cash flow if we are short of cash.
    New policy, which allow two percentdiscount if customers pay within ten days, will be helpful to improve our cashflow. By giving incentives to the earlier-than-required payments to ourcustomer, we will be able to speed up our accounts receivable collection.Therefore, this new policy will increase our accounts receivable turnover ratioand reduce the collection period. Furthermore, we will have more cash on handand improve cash flow performance.
    However, the disadvantages are alsoobvious. Two percent discount is costly for us if translating this figure intoannual percentage, which will be around 37 percent annually. This will largelyreduce our profitability, so we should carefully apply this method to ourcustomers. For example, we might consider to give this discount to ourprofitable customers who reluctant to pay the bills earlier.
    In general, we should consider our profitmargin and carefully apply this policy to selected customers. I would like totalk more on details about the topic when you have time.

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    发表于 2017-2-22 08:59:14
    感谢您的分享 对我的考试复习很有帮助
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    发表于 2017-2-23 12:22:32
    谢谢分享~~~~~
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    发表于 2017-3-12 19:56:54
    谢谢谢谢谢谢
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    发表于 2017-4-10 13:05:25
    thanks for sharing
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    发表于 2017-9-9 03:39:01
    Thanks for sharing
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